Multiplexed Diagnostics Market by Method (High Density Multiplexed Assays, Low Density Multiplexed Assays, Mid-Density Multiplexed Assays), Application (Allergic Diseases, Autoimmune Diseases, Cardiology), End-User - Global Forecast 2024-2030

Multiplexed Diagnostics Market by Method (High Density Multiplexed Assays, Low Density Multiplexed Assays, Mid-Density Multiplexed Assays), Application (Allergic Diseases, Autoimmune Diseases, Cardiology), End-User - Global Forecast 2024-2030

The Multiplexed Diagnostics Market size was estimated at USD 14.98 billion in 2023 and expected to reach USD 17.36 billion in 2024, at a CAGR 16.62% to reach USD 43.97 billion by 2030.

Multiplexed diagnostics allows simultaneous detection and analysis of multiple biomarkers or targets in a single assay or test. Multiplexed diagnostics incorporate multiple detection channels or probes within a single test, enabling the detection of multiple analytes simultaneously. Multiplexed diagnostics can provide a more comprehensive understanding of the disease or condition being analyzed by considering multiple biomarkers or targets, allowing for better accuracy and reliability in diagnostics. Multiplexed diagnostics have become more popular due to growing demand for improved diagnostic technologies, rising incidences of cancer and other infectious diseases, and greater private-public expenditure for genomes and personalized medicine. However, limited multiplexing levels, possible cross-sensitivity between single detection sites, and lack of trained healthcare professionals for handling multiplexed diagnostic equipment impede the utilization of multiplexed diagnostics. In addition, introducing new and advanced multiplexed diagnostic tools and increasing emphasis on R&D activities to generate next-generation sequencing solutions is expected to create tremendous growth opportunities for the multiplexed diagnostics market development.

Regional Insights

In the Americas, particularly the United States and Canada, the adoption of multiplexed diagnostics is driven by advanced healthcare infrastructure, a rigorous focus on research and development, and the presence of major diagnostics companies. High prevalence of chronic diseases and significant investment in healthcare technology further accelerated the use of these diagnostics. Consequently, production in this region is highly innovative, with an emphasis on the development of new assays and the integration of digital platforms. The APAC region displays a rapidly growing market for multiplexed diagnostics, mainly due to increasing healthcare expenditure, rising awareness about advanced diagnostic methods, and a growing middle-class population. Countries such as China and India are witnessing increased localization of production as local companies emerge and international players invest in regional manufacturing. Western Europe has a strong foundation similar to the Americas, with well-established healthcare systems favoring early adoption of advanced technologies like multiplexed diagnostics. The production in EMEA is marked by stringent EU regulations, which ensure high-quality standards. Companies operating within EMEA are a mix of established global players and smaller regional companies focusing on specific niche markets.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Multiplexed Diagnostics Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

Prevalence of cancers and other infectious diseases
Rise in private-public funding for genomics & personalized medicine
Demand for automated equipment & analytical systems

Market Restraints

Limited multiplexing levels and possible cross-sensitivity between single detection sites

Market Opportunities

Introduction of new and advanced multiplexed diagnostic tools
Increasing emphasis on R&D activities to generate next-generation sequencing solutions

Market Challenges

Lack of trained healthcare professionals for handling multiplexed diagnostic equipment

Market Segmentation Analysis

Method: Increased use of high-density multiplexed assays owing to their high precision in diagnostics
Application: Exponential use of multiplexed diagnostics for oncology disease detection
End-User: Need for advanced and high-throughput screening with multiplexed diagnostics in hospitals

Market Disruption Analysis

Porter’s Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Multiplexed Diagnostics Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Multiplexed Diagnostics Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

NanoPin Launches Blood-Based TB Test, Lays Groundwork for Multiplex HIV/TB Testing

NanoPin Technologies intensifies the commercial launch of its innovative blood test, specifically engineered to identify challenging tuberculosis (TB) cases. This cutting-edge multiplex assay is designed to detect TB and simultaneously diagnose human immunodeficiency virus (HIV), offering a substantial advancement in the diagnostic arena. This dual-detection technology heralds a new era in efficient patient management and enhanced care delivery for two of the world's most formidable infectious diseases.

ChromaCode and Protean BioDiagnostics Establish Strategic Partnership to Introduce a HDPCR-based NSCLC Assay in the United States

ChromaCode, Inc., an innovative player in the realm of genomics multiplexing, entered into a significant partnership with Protean BioDiagnostics Inc., a laboratory noted for its comprehensive CAP/CLIA certification and its role in pioneering advanced diagnostic methodologies for cancer. This strategic partnership is poised to make waves in the healthcare sector by launching an early access program for a groundbreaking non-small cell lung cancer (NSCLC) assay.

EDP Biotech Announces Merger with New Day Diagnostics

EDP Biotech and New Day Diagnostics completed an asset merger, giving rise to a comprehensive diagnostic enterprise now known as New Day Diagnostics. This unified entity is positioned to streamline the journey from development to delivery of innovative diagnostic solutions through robust vertical integration and strategic alliances.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Multiplexed Diagnostics Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Multiplexed Diagnostics Market, highlighting leading vendors and their innovative profiles. These include Abbott Laboratories, AccuBioTech Co., Ltd., Agilent Technologies, Inc., Akoya Biosciences, AusDiagnostics by R-Biopharm, Baxter International Inc., Becton, Dickinson and Company, Bio-Rad Laboratories, Inc., bioMérieux SA, Cardinal Health, Chembio, ChromaCode, Inc., Danaher Corporation, Delta Diagnostics BV, F. Hoffmann-La Roche AG, Genabio Diagnostics Inc., Hologic, Inc., Illumina, Inc., Leica Biosystems, Medtronic PLC, Merck KGaA, NanoPin Technologies, Novartis AG, PCR Biosystems, QIAGEN N.V., Quansys Biosciences Inc., Seegene, Inc., Siemens Healthineers, Thermo Fisher Scientific, Inc., and West Pharmaceutical Services.

Market Segmentation & Coverage

This research report categorizes the Multiplexed Diagnostics Market to forecast the revenues and analyze trends in each of the following sub-markets:

Method
High Density Multiplexed Assays
Low Density Multiplexed Assays
Mid-Density Multiplexed Assays
Very High Density Multiplexed Assays
Application
Allergic Diseases
Autoimmune Diseases
Cardiology
Infectious Diseases
Oncology
End-User
Academic Research
Clinical Research
Diagnostic Labs
Hospitals
Pharma Companies
Region
Americas
Argentina
Brazil
Canada
Mexico
United States
California
Florida
Illinois
New York
Ohio
Pennsylvania
Texas
Asia-Pacific
Australia
China
India
Indonesia
Japan
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Vietnam
Europe, Middle East & Africa
Denmark
Egypt
Finland
France
Germany
Israel
Italy
Netherlands
Nigeria
Norway
Poland
Qatar
Russia
Saudi Arabia
South Africa
Spain
Sweden
Switzerland
Turkey
United Arab Emirates
United Kingdom

Please Note: PDF & Excel + Online Access - 1 Year